I actually lol every single time I read this under experienceRegardless, the IRR is dependent on many factors including: purchase price, exit price (this factor is the biggest contributor to IRR), rent growth strength, ability to re-position, debt terms - LTV, rate, term, IO years, amortization yearsArticles you might find useful:The Inside Track to Vetting A Multifamily Deal SponsorDeal Screening Checklist for Passive Multifamily InvestorsFocus on developing relationships with the right syndicators (full disclosure: I am one) with the right background/experience working with the right teams. 

I have been getting GC’s to give me 10% fudge factor budgets, while also getting subs to get me bids.

The business decision of whether to do that however hinges on there being equity above the 1st lien and other factors that you're likely used to evaluating.

This is because it's a 40 minute drive, and I do not have time to screen and meet for showings, with my full time job.

I started driving for dollars with deal finder app, have website/social media/seo in the works, and am looking into other motivated buyer lead sources for direct mail.  

It's going to be closer to 1700 then 1500 if you factor in insurance/taxes... then figure prop mgmt fee (75% of first mo/renewal, 10% ea mo after) that's going to get you close to break even.

Sounds like you have incredible drive and determination!

I recently found a property driving for dollars.

Up to you if you want to hang your hat on the de jure letter of the law or the de facto realities of the situation as it stands now.

I am looking in PA,NY state or any area within 5 hour driving distance.